If the Size of a Sample Equals the Size of the Population,we

question 68

True/False

If the size of a sample equals the size of the population,we would not expect any error in estimating the population parameter.

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Definitions:

Rational Consumer

The theoretical concept of a consumer who always makes decisions that provide the greatest benefit or utility according to their preferences.

Equilibrium

A state of balance in a system where competing forces or influences are equal; in economics, it's where supply equals demand.

Marginal Utility

The change in satisfaction or utility that an individual gains from consuming an additional unit of a good or service.

Consumer Equilibrium

A state where an individual allocates their income in a way that maximizes their utility, given their budget constraints.